VCEL (Vericel Corporation) Stock Financials & Earnings | Market Cap Arena

VCEL (Vericel Corporation) Stock Financials & Earnings | Market Cap Arena

VCELVericel Corporation

Mkt Cap$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$276M

Net Income (TTM)$17M

EPS (TTM)$0.31

Free Cash Flow (TTM)$35M

Gross Margin74.4%

Op. Margin4.0%

Net Margin6.0%

FCF Margin12.7%

P/S Ratio (TTM)6.1x

P/E Ratio (TTM)101.6x

YoY Rev Growth+16.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$41M	$27M	-$8M
Q2 23	$46M	$30M	-$6M
Q3 23	$46M	$31M	-$5M
Q4 23	$65M	$49M	$13M
Q1 24	$51M	$35M	-$5M
Q2 24	$53M	$37M	-$6M
Q3 24	$58M	$42M	-$2M
Q4 24	$75M	$58M	$18M
Q1 25	$53M	$36M	-$13M
Q2 25	$63M	$47M	-$2M
Q3 25	$68M	$50M	$3M
Q4 25	$93M	$73M	$22M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	9.9x	—
Q2 23	9.4x	—
Q3 23	9.1x	—
Q4 23	8.5x	—
Q1 24	8.1x	3721.0x
Q2 24	7.8x	2127.0x
Q3 24	7.4x	473.0x
Q4 24	7.1x	162.0x
Q1 25	7.0x	563.5x
Q2 25	6.7x	236.1x
Q3 25	6.5x	128.3x
Q4 25	6.1x	101.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$8M	-$1M
Q2 23	$10M	$6M
Q3 23	$7M	$600K
Q4 23	$10M	$2M
Q1 24	$7M	-$7M
Q2 24	$19M	$2M
Q3 24	$10M	$41M
Q4 24	$22M	$8M
Q1 25	$7M	-$8M
Q2 25	$8M	$22M
Q3 25	$22M	$19M
Q4 25	$15M	$802K

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$9M
Q2 23	$4M
Q3 23	$7M
Q4 23	$8M
Q1 24	$14M
Q2 24	$17M
Q3 24	$31M
Q4 24	$14M
Q1 25	$14M
Q2 25	$14M
Q3 25	$3M
Q4 25	$14M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+13.7%	+13.5%
Q2 23	+24.0%	+12.5%
Q3 23	+18.2%	+11.7%
Q4 23	+23.3%	+12.1%
Q1 24	+25.0%	+15.3%
Q2 24	+14.7%	+13.1%
Q3 24	+27.0%	+19.2%
Q4 24	+16.0%	+8.9%
Q1 25	+2.6%	+15.2%
Q2 25	+20.1%	+11.2%
Q3 25	+16.6%	+6.1%
Q4 25	+23.3%	+23.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$9M	21.3%
Q2 23	$9M	19.1%
Q3 23	$8M	17.4%
Q4 23	$7M	10.6%
Q1 24	$10M	19.2%
Q2 24	$10M	18.1%
Q3 24	$9M	15.9%
Q4 24	$8M	10.5%
Q1 25	$12M	21.9%
Q2 25	$10M	16.0%
Q3 25	$9M	12.9%
Q4 25	$8M	9.1%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$5M	$29M
Q2 23	$5M	$31M
Q3 23	$6M	$30M
Q4 23	$5M	$31M
Q1 24	$6M	$34M
Q2 24	$7M	$35M
Q3 24	$6M	$38M
Q4 24	$5M	$35M
Q1 25	$7M	$42M
Q2 25	$7M	$42M
Q3 25	$6M	$40M
Q4 25	$7M	$43M

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$62M	$57M	$119M
Q2 23	$43M	$55M	$98M
Q3 23	$60M	$45M	$105M
Q4 23	$69M	$40M	$110M
Q1 24	$71M	$48M	$118M
Q2 24	$50M	$52M	$103M
Q3 24	$54M	$48M	$102M
Q4 24	$75M	$42M	$116M
Q1 25	$73M	$39M	$113M
Q2 25	$81M	$36M	$117M
Q3 25	$100M	$35M	$135M
Q4 25	$100M	$37M	$137M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	47M	-3.7%
Q2 23	48M	+0.4%
Q3 23	48M	+0.2%
Q4 23	51M	+6.0%
Q1 24	48M	-4.7%
Q2 24	49M	+1.1%
Q3 24	49M	+0.8%
Q4 24	52M	+6.4%
Q1 25	50M	-4.4%
Q2 25	50M	+0.9%
Q3 25	52M	+3.1%
Q4 25	52M	+0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$152K	190
FY 15	$269K	190
FY 16	$269K	202
FY 17	$312K	205
FY 18	$421K	216
FY 19	$489K	241
FY 20	$455K	273
FY 21	$556K	281
FY 22	$539K	305
FY 23	$629K	314
FY 24	$664K	357
FY 25	$35K	8K